June 7 (Bloomberg) -- The FTSE/JSE Africa All Share Index rose for a second day, adding 240.27, or 0.8 percent, to 31,818.30 at the 5 p.m. close in Johannesburg.
The following were among the most active stocks in the South African market today.
Anglo American Plc (AGL SJ), the diversified mining company that makes up 11 percent of South Africa’s benchmark stock index, increased for a second day, climbing 1.99 rand, or 0.6 percent, to 330 rand. Lead and zinc gained on the London Metal Exchange.
BHP Billiton Plc (BIL SJ), the world’s largest mining company, advanced the most since May 24, rallying 3.67 rand, or 1.4 percent, to 259.90 rand.
Mustek Ltd. (MST SJ) dropped the most since Oct. 18, falling 30 cents, or 5.9 percent, to 4.80 rand. The computer services company said today that it’s withdrawing earlier cautionary statements related to a non-binding 5.55 rand-a-share buyout offer. Chief Executive Officer David Kan led the buyout group, which included Trinitas Private Equity Fund. No reasons were offered for the withdrawal.
Naspers Ltd. (NPN SJ), Africa’s biggest media company, rose 6.06 rand, or 1.5 percent, to 406.06 rand, the strongest closing price in three months. Goldman Sachs Group Inc. gave Naspers a “buy” recommendation in new coverage, with a stock-price estimate of 528 rand.
Sasol Ltd. (SOL SJ), the world’s biggest maker of motor fuel from coal, snapped six days of losses, gaining 6.40 rand, or 1.9 percent, to 352.40 rand. Andre de Ruyter, a company executive, estimated that the olefin and surfactant business purchased from German utility RWE AG will have an operating- profit margin of 7 percent to 11 percent of sales, and Sasol doesn’t plan to sell the division, the Financial Times Deutschland reported today.
Wesizwe Platinum Ltd. (WEZ SJ), an explorer of the metal, rose 7 cents, or 3.6 percent, to 2.04 rand, the highest since May 31. The company took possession of $227 million in cash funding for its Frischgewaagd-Ledig mine and will be starting the development on July 4, it said in a statement.
--Editors: Ana Monteiro, Linda Shen
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